GREAT post Chris. I think you hit the nail on the head. If the bozos in Congress had to undergo the same process that we who to get and hold a NMLO license, the government might actually work! What a concept. Of course, when the inmates are running the asylum, and supposedly setting an example to the electorate, we get what we, as voters. deserve. Imagine a requirement that all elected officials have to learn something about ethics! (no more zero percent mortgages from the huge banking houses, no more free trips all over the world paid for by the banking lobby...) The concept is further from reality than thinking that banking regulation actually works!

Great article. Especially like the reference to the single stupidest form in the 70 page packet. It is pretty amazing to watch as consumers plow thru the 70 pages, shaking their heads and occasionally asking "why". Mostly, they just walk away knowing what their interest rate is and costs are. That is all they care about. Your alternative to licensing would be practical, and I mean that, it would probably produce better L O's.